BUSINESS Tokyo stocks open flat after sharp rally


Tokyo stocks open flat after sharp rally


09:15, May 27, 2020

Tokyo stocks opened flat on Wednesday as profit-taking offset positive sentiment from gains on Wall Street.


File photo: VCG

The benchmark Nikkei 225 index was down 0.01 percent, or 3.03 points, at 21,268.14 in early trade, while the broader Topix index was up 0.02 percent, or 0.30 points, at 1,535.03.

"The Japanese market is seen starting with a wait-and-see attitude after sharp rises in the previous session," Toshiyuki Kanayama, senior market analyst at Monex, said in a note.

The subdued trade came after the Nikkei rallied 2.55 percent on Tuesday, welcoming the lifting of Japan's coronavirus state of emergency.

The dollar fetched 107.48 yen in early Asian trade, against 107.54 yen in New York.

In Tokyo, exporters were mixed, with Honda gaining 1.28 percent to 2778.5 yen while Toyota slipped 0.30 percent to 6,629 yen and Sony lost 0.61 percent to 6,696 yen.

On Wall Street, the Dow ended up 2.2 percent at 24,995.11.

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